As the cryptocurrency landscape evolves, a growing number of public corporations are embracing a Bitcoin-focused strategy, leading to transformative changes in their treasury management. Recent reports indicate that publicly traded companies collectively holding Bitcoin have surpassed an impressive $113 billion in early September, marking a pivotal moment in corporate finance.
This substantial figure not only signals robust institutional belief in Bitcoin as a legitimate reserve asset but also highlights the increasing trend of adapting crypto-treasury models among these corporations. Below, we will explore the key players involved in this movement.
Key Players in the Bitcoin Treasury Movement
Recent analysis reveals that the total Bitcoin reserves owned by public companies have crossed the significant milestone of $100 billion. Currently, the total valuation is fluctuating between $111.24 billion and $113 billion, based on insights from BiTBO.
At the forefront of this evolution are businesses and entrepreneurs who have made Bitcoin a central element of their financial strategy. A notable example is Strategy, recognized for holding a staggering 638,460 BTC, equating to approximately $73.63 billion. This represents a remarkable 64.27% of total Bitcoin owned by public entities and about 3.04% of all Bitcoin that has been mined.
Following Strategy are mining companies and firms dedicated to Bitcoin, with MARA Holdings (Marathon Digital) being a key player, possessing 52,477 BTC valued at around $6.05 billion. Other companies such as XXI (Twenty-One Capital) and Riot Platforms are also accumulating significant BTC amounts.
It’s intriguing to note that firms outside the traditional mining sector are also crafting a solid Bitcoin treasury strategy. For instance, MetaPlanet has successfully secured 20,136 BTC, recently expanding its shares offering to raise $1.4 billion for further Bitcoin acquisitions.
Other notable companies, including GameStop and the electric vehicle manufacturer Tesla, have also included thousands of BTC in their asset portfolio.
Reasons Behind Bitcoin Accumulation
The motivations for large-scale Bitcoin treasury holdings are multifaceted. Initially, many corporate leaders perceive Bitcoin as a safeguard against inflation, frequently dubbing it digital gold.
Moreover, there is a growing trend of shareholder appeal. For example, MetaPlanet’s increased share offering stemmed from high investor demand. Companies that announce Bitcoin holdings often see their stock prices surge. Reports from Animoca Brands indicate that the stock prices of companies disclosing crypto strategies can rise by an average of 150% within a mere 24 hours.
In addition to public companies, institutional interest in Bitcoin is also on the rise, especially through Spot Bitcoin ETFs. Recent data reveals that such ETFs in the United States have been attracting significant funds, with SoSoValue indicating an inflow of $552.78 million on September 11 alone.
As of now, Bitcoin trades at approximately $115,220, reflecting a modest increase of 0.9% over the preceding 24 hours.
